Tamil Nadu road sector to get Rs.8,583 crore funding

The road sector in Tamil Nadu is expected to get a big lift as the state government is likely to get Rs.8,583 crore for various road projects, said a state government official.

"This biggest externally-aided project in the state so far would cover 1,678 km of roads in identified areas and this we expect to commence from next year," Rajeev Ranjan, principal secretary, highways and minor ports, said here Monday.

He was speaking at the Suminfra 2013, an infrastructure summit, organised by Confederation of Indian Industry (CII).

According to him, Rs.65 crore have been earmarked to prepare detailed project reports at the first meeting of the Tamil Nadu Infrastructure Board.

The state is inviting investors to its infrastructure development projects estimated to involve an outlay of Rs.15,00,000 crore. He said the process of public consultation was also institutionalised.

According to Narayan Sethuramon, chairman, CII Tamil Nadu Chapter, the public-private participation was well established in several sectors like power, ports, and airports. However, some of the immediate and critical requirements for successful public private partnership projects were an effective regulatory framework, sovereign clearances and enhancing liquidity for developers, he said.

Speaking at the summit, Paritosh Gupta, chairman, Suminfra 2013, said the number of infrastructure projects and type of investments India had been targeting were not unrealistic or beyond the reach of the country's capabilities.

"There is real interest in India and India's growth story is sustainable and realistic," he said.

Gupta said for infrastructure growth, the present focus was on corridor-based development. Delhi-Mumbai industrial corridor has become a model for several others. Many new corridors were being planned and implemented in several States across the country, including Tamil Nadu.

"Industrial corridor-based development is a way of integrated growth creating new cities and manufacturing hubs," he added.